This, of course, is not Fall Out Boy's first time associating with the legendary singer-songwriter. Elton appeared on the title track of Fall Out Boy's latest full-length, Save Rock And Roll, and famously even helped the group decide on the album's name.

Check out John's original version of "Saturday Night's Alright," as well as his spot on "Save Rock And Roll," below:

"Saturday Night's Alright For Fighting" is far from Fall Out Boy's first foray into high-profile covers. Perhaps their best-known prior stab at a classic track, the band released their own version of Michael Jackson's "Beat It" in 2008. Here's the video: